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AlphaRoot, part of Founder Shield LLC, said Tuesday that it is offering a suite of casualty coverages for cannabis operators.
Cannabis companies can secure general liability and product liability with limits up to $1 million per occurrence and $2 million aggregate as well as hired and non-owned auto with $1 million in limit; excess liability is available up to $10 million, according to an email from a company spokeswoman.
Coverage is available where cannabis is legal, either medically or recreationally. Worldwide coverage is available as long as primary business operations are in the U.S., according to the spokeswoman.
Drew Taylor, managing director and head of broking at New York-based AlphaRoot, said in a statement that “insurance will play a key role in ensuring responsible growth” of the cannabis industry.